Lam Research eyes Vietnam chip supply chain as China curbs bite

HO CHI MINH CITY -- Vietnam's prime minister has met with U.S. chip equipment maker Lam Research as the company looks at diversifying its supply chain and warns of a hit to its China business from U.S. export controls.

Lam Research told Nikkei Asia on Friday that its Group Vice President of Global Operations Karthik Rammohan went to Hanoi to "evaluate opportunities to diversify our supply chain and support our manufacturing operations in Asia." He was hosted by Prime Minister Pham Minh Chinh. Vietnam is urging the company to invest $1 billion in local production.